'Friday the 13th' Sparks Crypto Uncertainty: Why Is it 'Unlucky' For Bitcoin And Ethereum?
Portfolio Pulse from Mehab Qureshi
Speculation emerges about the influence of the date 'Friday the 13th' on the financial markets, particularly the cryptocurrency space. Research firm Matrixport suggests that breaching key support levels could trigger a cascading effect, leading to potential liquidations affecting Ethereum (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC). Historical data reveals that Bitcoin prices saw subsequent increases of +14% and +66% one month and three months after these particular Fridays.
October 13, 2023 | 12:06 pm
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NEUTRAL IMPACT
Breaching key support levels could trigger a cascading effect, leading to potential liquidations affecting Bitcoin. Historical data reveals that Bitcoin prices saw subsequent increases of +14% and +66% one month and three months after these particular Fridays.
The speculation about the impact of 'Friday the 13th' on Bitcoin is based on historical data and current market conditions. However, it's uncertain how this superstition will actually affect the market.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Breaching key support levels could trigger a cascading effect, leading to potential liquidations affecting Ethereum. The research suggests that Ethereum prices are trading at quite precarious levels.
The speculation about the impact of 'Friday the 13th' on Ethereum is based on current market conditions. The research suggests that Ethereum prices are trading at quite precarious levels, which could lead to potential liquidations.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80